McKesson Corporation $MCK Holdings Raised by Cerity Partners LLC

Cerity Partners LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 12.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 64,166 shares of the company’s stock after acquiring an additional 7,211 shares during the quarter. Cerity Partners LLC’s holdings in McKesson were worth $52,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. lifted its position in shares of McKesson by 550.4% in the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after buying an additional 3,952 shares during the last quarter. Pensionfund Sabic bought a new stake in shares of McKesson during the 4th quarter valued at about $1,887,000. Varma Mutual Pension Insurance Co raised its stake in McKesson by 28.9% during the third quarter. Varma Mutual Pension Insurance Co now owns 21,853 shares of the company’s stock worth $16,882,000 after acquiring an additional 4,900 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in McKesson by 18.8% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company’s stock worth $7,732,000 after acquiring an additional 1,585 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in McKesson by 24.3% in the third quarter. PNC Financial Services Group Inc. now owns 242,256 shares of the company’s stock worth $187,152,000 after acquiring an additional 47,352 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCK. Citigroup lowered their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. UBS Group raised their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $968.87.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,893 shares of company stock valued at $5,225,385 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

McKesson Price Performance

McKesson stock opened at $783.71 on Wednesday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The stock has a market capitalization of $94.20 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31. The firm has a 50 day simple moving average of $802.84 and a 200-day simple moving average of $847.76.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.